Ionic Rare Earths Advances Makuutu Demonstration Plant & Phase Five Drilling for Resource Upgrade

Ionic Rare Earths Limited ("IonicRE" or "the Company") (ASX: IXR) has announced significant progress at its Makuutu Heavy Rare Earths Project in Uganda. The Company's 60% owned Makuutu Demonstration Plant is undergoing earthworks and construction, with a local Ugandan company leading the installation contract. This marks increased activity at the site, and the plant aims to validate test work and provide the basis for grade control, mine design, material handling, metallurgical reconciliation, and construction while maximising Stage One DFS results.

Phase Five drilling is also progressing well, with 76 rotary air blast (RAB) holes completed across EL00147, EL00247, and RL00007, and core drilling underway. 29 holes have been drilled for 558 meters toward the 4,380-meter program to support an upgrade in the Mineral Resource Estimate classification from inferred to indicated over RL00007.

Makuutu ranks among the world's largest and most advanced, development-ready ionic adsorption clay heavy rare earth element deposits, making the project a globally strategic resource for near-term development and long-term security of magnet and heavy rare earth oxide (HREO) supply. Community engagement is also progressing well.

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In a statement, Tim Harrison, Managing Director at IonicRE, said, "The commercialisation of our recycling technology at our Belfast Facility and our focus on the delivery of the Makuutu Heavy Rare Earths Project in Uganda positions us to provide a secure, sustainable, and traceable supply of magnet REOs. We are harnessing our technology to accelerate our mining, refining, and recycling of magnets and heavy rare earths that are critical for the energy transition, advanced manufacturing, and defense. "

The project is being developed through local Ugandan operating entity Rwenzori Rare Metals Limited ("RRM"). The Makuutu Demonstration Plant's technical facility aims to validate metallurgical test work and provide further technical validation based on grade control, mine design, material handling, metallurgical reconciliation, and construction activities while also supporting project financing and strategic partner activity. Harrison added, "This step will also strengthen talks we have progressed with supply chain partners where further value-adding has been identified. "

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